STOCKS | Staff Reporter, Singapore

Daily Markets Briefing: STI down 0.14%

The wait for developments on geopolitical tensions could mute gains today.

The Straits Times Index (STI) ended 5.05 points or 0.14% lower to 3543.18, taking the year-to-date performance to +4.12%.

The top active stocks were DBS, which declined 0.75%, Singtel, which declined 0.29%, UOB, which gained 0.14%, Venture, which declined 2.71% and OCBC Bank, with a 0.61% fall.

The FTSE ST Mid Cap Index declined 0.23%, whilst the FTSE ST Small Cap Index declined 0.43%.

OCBC Investment Research noted that US stocks finished mostly lower, with major indices turning decisively negative in afternoon trading as uncertainty over trade policy and other geopolitical issues remained high.

Seven out of 11 S&P 500 industries ended lower, with losses led by Energy (-1.28%) and Industrials(-1.14%). Gains were registered by Financials (+0.60%) and Utilities (+0.39%).

"The muted performance on Wall Street overnight is likely to continue to weigh on the local sentiment today, as investors continue to monitor developments in the geopolitical space," OIR said.

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